New construction pricing is often presented by the square foot or by the number of rooms in a home. This type of pricing provides consistency for real estate marketing purposes, but is a reflection of the average cost of building various styles of homes in a given location.
A noncorporate business whose owners actively participate in the organization's management and are protected against personal liability for the organization's debts and obligations. The limited liability company (LLC) is a hybrid legal entity that has both the characteristics of a corporation and of a partnership. An LLC provides its owners with corporate-like protection against personal liability. It is, however, usually treated as a noncorporate business organization for tax purposes.
For limited liability companies in the United Kingdom, see Limited company. For a general discussion of entities with limited liability, see Corporation. A limited liability company (LLC) is the United States-specific form of a private limited company. It is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. An LLC is not a corporation; it is a legal form of a company that provides limited liability to its owners in many jurisdictions.